Assets: $1,141,239
Real Estate - $853,000
Retirement accounts - $197,908
Brokerage - $64,996
Cash equivalence - $20,982
Other - $4,353
Liabilities: $414,570
Real Estate Mortgages - $414,570
Net Worth: $726,669
My net worth dropped by about $1,000 which happened mostly on the last day of the month due to the stock market drop. I also had some large expenses that took place in July. I had a large insurance bill for a rental and also a large down payment on a medical bill. I put all of this on credit cards, but the bills came due.
I have a feeling that we could be in for a strong correction in the stock market. Somewhere in the 10-20% range. This could drop my net worth by over $50k, but that's how the stock market works. I don't think this will be the big one where it drops over 50%. That'll probably happen in the next 4 years or so, but regardless I can't make up for a $50k drop in my net worth. I could maybe break even after saving for a year, but not over the span of a few months. Only time will tell!
Real Estate - $853,000
Retirement accounts - $197,908
Brokerage - $64,996
Cash equivalence - $20,982
Other - $4,353
Liabilities: $414,570
Real Estate Mortgages - $414,570
Net Worth: $726,669
My net worth dropped by about $1,000 which happened mostly on the last day of the month due to the stock market drop. I also had some large expenses that took place in July. I had a large insurance bill for a rental and also a large down payment on a medical bill. I put all of this on credit cards, but the bills came due.
I have a feeling that we could be in for a strong correction in the stock market. Somewhere in the 10-20% range. This could drop my net worth by over $50k, but that's how the stock market works. I don't think this will be the big one where it drops over 50%. That'll probably happen in the next 4 years or so, but regardless I can't make up for a $50k drop in my net worth. I could maybe break even after saving for a year, but not over the span of a few months. Only time will tell!
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